Murray Motors had the following results in January. January purchases of inventory. 67,300 Cost of...
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Accounting
Murray Motors had the following results in January.
January purchases of inventory. 67,300
Cost of goods sold during January... 82,100
Sales Revenue during January.175,000
Inventory balance, January 31. 36,800
Based on this information, what must have been the balance in inventory on January 1 (the beginning of the period)? (Hint remember Beginning Inventory + Purchases = COGAS = COGS + Ending Inventory)
A. 107000 B. 12000 C. 82100 D. 51600
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